THE IMAGE IS NOT BLURRY. JUST NEED TO ZOOM IN. I have tried on two other laptops and when zoomed, it Is clear

AutoSave OFF A mo sva .. Chapter 3 serial prob Home Insert Draw Page Layout Formulas Data Review View Tell me Share o Comments Arial Insert v 10 = V ' ' V ab ce Wrap Text ab General v 28- O Ou Delete v V Paste B I U v Av V Cell $ Merge & Center v % 9 V .00 20 Conditional Format Formatting as Table Sort & Filter Find & Select Sensitivity Format v Analyze Data Styles V F56 fx A B C D E F H J L M N O P Q R S T U V W Y Z 2 Date: Cells highlighted in green contain a drop-down list; select the appropriate account from the list. MALOON The unadjusted trial balance of the Slow Motion Company as of December 31, 2021 is found on the trial balance tab. The following information is required to prepare the necessary adjusting entries for the Slow Motion Company. 1. The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1, 2021. Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any. 2. Based on a physical count, supplies on hand total $8,670. Review the unadjusted balance in Supplies, and prepare the necessary adjusting entry, if any. 3. The company purchased equipment on December 1st for $26,000. The equipment is expected to have an 5-year useful life, and be worth about $8,000 at the end of five years. Review the unadjusted balance in Accumulated depreciation, and prepare the necessary adjusting entry to record the monthly depreciation, if any. 4. On December 26, the client paid a $3,000 60-day fee in advance, covering December 27 to February 24. Review the unadjusted balance in Unearned Consulting Revenue, and prepare the necessary adjusting entry, if any. 5. Slow Motion's employee earns $70 per day for a five-day workweek beginning on Monday and ending on Friday. The employee was last paid on Friday, December 26. Review the unadjusted balance in Salaries expense, and prepare the necessary adjusting entry, if any. 6. In the second week of December, Slow Motion agreed to provide 30 days of consulting services to a local fitness club for a fixed fee of $2,700. The terms of the initial agreement call for Slow Motion to provide services from December 12, 2021, through January 10, 2022, or 30 days of service. The club agrees to pay Slow Motion $2,700 on January 10, 2022, when the service period is complete. Review the unadjusted balance in Consulting revenue, and prepare the necessary adjusting entry, if any. 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 Required: For transactions 1-6, review the unadjusted balance from the Trial Balance and prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. After adjusting the accounts, review the financial statements for accuracy. Note*: Each journal entry is posted automatically to the general ledger. Account Title Debit Credit No 1. Date 31-Dec 2. 31-Dec 3. 31-Dec 4. 31-Dec 5. 31-Dec 6. 31-Dec General Journal General Ledger Trial Balance Financial Statements + Ready A - 100% AutoSave OFF A mo sva .. Chapter 3 serial prob Home Insert Draw Page Layout Formulas Data Review View Tell me Share o Comments Arial Insert v 10 = V ' ' V ab ce Wrap Text ab General v O Ou Delete v V Paste B I U v Av Merge & Center v V $ V % 9 .00 20 Conditional Format Formatting as Table Cell Styles Sort & Filter Format v Find & Select Sensitivity Analyze Data v N35 fx DE A B C TI G K L M N O Q R S T U V W Y Z 4 Cash Debit No. Credit No. Balance Date 31-Dec Balance 4,275 5 6 7 8 9 Accounts receivable Date Debit Credit 31-Dec 31-Dec 6 Supplies Debit No. Credit No. Date 31-Dec 31-Dec Balance 9,720 9,720 Prepaid insurance Date Debit Credit 31-Dec 31-Dec Balance 2,400 2,400 2 1 No. Equipment Date Debit 31-Dec Credit Balance 26,000 Accumulated depreciation - Equipment No. Date Debit Credit Balance 31-Dec 3 31-Dec No. Accounts payable Date Debit Credit 31-Dec No. Balance Balance 6,200 Salaries payable Date Debit Credit 31-Dec 31-Dec 5 Common stock Date Debit Credit No. No. Unearned consulting revenue Date Debit Credit 31-Dec 31-Dec Balance 3.000 3,000 Balance 30,000 4 Dividends Debit No. Date Credit No. Balance 200 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 52 Consulting revenue Date Debit Credit 31-Dec 31-Dec 31-Dec Balance 5,800 5,800 5,800 4 6 Rental revenue Date Debit Credit 31-Dec Depreciation expense - Equipment Date Debit Credit Balance No. No. Balance 300 3 31-Dec No. No. Balance Salaries expense Date Debit Credit 31-Dec 31-Dec Balance 1,400 1,400 Insurance expense Date Debit Credit 31-Dec 31-Dec 5 1 No. Rent expense Date Debit 31-Dec Credit No. Balance Balance 1,000 Supplies expense Date Debit Credit 31-Dec 31-Dec 2. No. Utilities expense Date Debit Credit 31-Dec Balance 305 General Journal General Ledger Trial Balance Financial Statements + Ready A - 100% AutoSave OFF A mo sva .. Chapter 3 serial prob Home Insert Draw Page Layout Formulas Data Review View Tell me Share o Comments Arial Insert v 10 = V ' ' V ab ce Wrap Text ab General v O Ou Delete v V Paste B I U A v 191 V $ Merge & Center v Cell % 9 V O .00 20 Conditional Format Formatting as Table Sort & Filter Find & Select Format v Sensitivity Styles Analyze Data V K31 fx A B C D E F G H J L M N O P Q R S T U V W Y Z AB 10 11 Credit Unadjusted Trial Balance December 31, 2021 Account Title Debit Cash $4,275 Accounts receivable 0 Supplies 9.720 Prepaid insurance 2,400 Equipment 26,000 Accumulated depreciation - equipment Accounts payable Salaries payable Unearned consulting revenue Common stock Dividends 200 Consulting revenue Rental revenue Depreciation expense - equipment 0 Salaries expense 1,400 Insurance expense 0 Rent expense 1,000 Supplies expense 0 Utilities expense 305 Total $45,300 0 6,200 0 3,000 30,000 5,800 300 191801 $45,300 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 co Credit FastForward Adjusted Trial Balance December 31, 2021 Account Title Debit Cash Accounts receivable Supplies Prepaid insurance Equipment Accumulated depreciation - Equipment Accounts payable Salaries payable Unearned consulting revenue Common stock Dividends Consulting revenue Rental revenue Depreciation expense - Equipment Salaries expense Insurance expense Rent expense Supplies expense Utilities expense Total General Journal General Ledger Trial Balance Financial Statements + Ready A - 97% AutoSave OFF A mo sva .. Chapter 3 serial prob Home Insert Draw Page Layout Formulas Data Review View Tell me Share o Comments Insert v Arial V 10 V ' ' ab ab ce Wrap Text Currency v WE O Ou Delete v V Paste B I U v Av V 191 Merge & Center v $ V % 9 .00 20 Conditional Format Formatting as Table Cell Styles Sort & Filter Format v Find & Select Sensitivity Analyze Data V G41 fx A B C D E F G H I J L M N 0 P Q R S T. U V W X Y z FastForward Income Statement For Month ended December 31, 2021 Revenues: Consulting revenue Rental revenue Total Revenues Expenses: Depreciation expense - Equipment Salaries expense Insurance expense Rent expense Supplies expense Utilities expense 0 Total Expenses 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 FastForward Statement of Retained Earnings For Month ended December 31, 2021 Retained earnings, December 1, 2017 Less: Dividends Retained earnings, December 31, 2017 FastForward Balance Sheet December 31, 2021 Assets Liabilities Cash Accounts receivable Supplies Prepaid insurance Equipment Total liabilities Equity 46 Total equity Total liabilities and equity Total assets 47 48 49 50 51 52 53 54 55 56 General Journal General Ledger Trial Balance Financial Statements + Ready A - 100%